WHY A STUDENT SHOULD PREFER ICWAI COURSE TO CA COURSE? WRITTEN BY CMA SAMIR BISWAL

In the light of the prevailing Scenario, it is clear to perceive that both parents

and students have come to a realization that the job potential to the engineering courses are fast fading out, and hence, we see a shift from Engineering to Commerce courses. Doubtlessly, a bulk of the student community is totally unaware of the opportunities thrown open for ICWA on par with CA course.

 It has been aptly said by our educationists, erudite scholars, experts and experienced people, that a person gets mental maturity only after 15 years of proper schooling and college Education i.e.,Primary Education (1st class to 5th class) 5 years, Secondary Education (6th to 10th) 5 years and College

Education (Inter & Degree) 5 years. Today, a student after completion of the Intermediate course is eligible for CA & ICWAI courses.

 But to our dismay, majority of the students prefer to join C.A. course, without an Academic degree and in course of time, only a few, whose percentage is very negligible, come out successfully, while the remain bulk, suffer a lot in the absence of an Academic degree and their inability to complete

the CA course.

 It is in this context, all the relevant details, Viz., eligibility, duration etc. are furnished here under.

 A student, who longs to study CA course, first has to pass a qualifying examination called CPT (Common Proficiency Test) This qualifying examination duration is 4 hours, conducted twice in a calendar year – June – December, throughout India. This qualifying Examination would be an objective

type Examination; though the qualified SSC students are eligible to enroll, they are allowed to write the said qualifying test, only after clearing plus 2 (Intermediate Examination). No student, irrespective of his/her qualification i.e., regular degree, P.G. or any other equal or more qualification, is exempted

from this eligibility test, if he/she wants to study CA course.

 On completion of CPT, candidates must enroll for IPCC (Integrated Professional Competency Course) to enter CA and thereafter, students require to complete 100 hour computer training and pass an online test. The successful students alone will have the eligibility to write IPCC within a year of their passing CPT. This examination consists of 2 groups. The first group comprises 4 papers and the second group has 3 papers, in a descriptive type. A student is required to work as an apprentice clerk for articles, under the supervision of a practicing CA for 3 years, either, after passing the first group or both the first and the second group. During the last 6 months of the 3rd year of articles, a student is supposed to write CA final. If successful, only then, it is constructed as qualified CA. It is most important to note that a student is neither permitted to study a regular degree course during the

Apprentice period (3 years) nor to undertake any job. If a student has any desire to study any degree through Distance Education, such students need to obtain permission from CA Institute. That too, for not more than one course. Above all, it must be borne in mind that every practicing CA literally will

have limited number, to work as apprentice, under his control.

 It is an acknowledged fact the CA course, would take at least 5 years period to complete the above furnished process, to the outstanding / genius students alone.

 It is no exaggeration that only 5 out of every 1000 students are being seen today. It is amazing and shocking to state that fate of the remaining, is gloomy, uncertain and excruciating, which means clearly, that such students could neither complete a regular degree nor complete the CA course, and

land in the pool of dejection and frustration. Indeed, their agony is indescribable and inexplicable.

  Today, many a students, say 90%is deviating and violating the above explained the norms, set in,

to the articles.

 Now, coming to the ICWAI Exams (Cost Accountancy) course, a student, can also pursue after (Plus 2) They have to enroll for a qualifying examination known as “Foundation”, in which, there are 4 papers in descriptive type. This examination is conducted 2 times in a calendar year i.e., 2nd week of

June and December throughout India. There is an exemption to this “foundation” course to any one, who is a graduate or P.G. or any equivalent course to a degree. It means that students, with plus 2, can enroll for “Foundation” while degree/P.G. students can enroll for ICWA course. This ICWA course too, has 2 parts i.e., Inter and Final. If, a student can complete ICWA Inter in a year, the very next year, he/she can write and pass ICWA final also. It means that a meritorious / hardworking student, after an

entry into a regular degree course, can complete the ICWA course within 2 ½ years from “Foundation” level, while 2 years, from a degree level. Obviously, we see 100 students for every 1000 students, while the remaining in 1½ years, such students are 400 for every 1000 students. It is to be crystallized that there is no relation between practical work experience and writing the exams, these two are separate.

 With regard to job opportunities, both the Institutes conduct campus recruitment programs, once in every six months and practically there is no difference between ICWAI and CA as far as jobs are concerned. It is crystal clear for everyone, to understand that Inputs, Time and Hard work, for CA is,

comparatively more than ICWA but output, is same for the both. Besides the above, ICWA course facilitates a student to undertake a regular academic degree alongside. To see the dark side, if all the sincere endeavors and hard work for ICWA course does not bear a fruit, a student, at-least, can pursue

P.G. course like M.Com, MBA etc, because the CA students cannot and should not study a regular course.

 It is observed that many students, parents, including the educated, just developed a craze for CA without proper awareness and in-depth knowledge of the process involved for completion of CA course. Added to this, some institutions have come up with a business motive to attract the students with

advertisements, promising coaching only to CA. The coaching centers fail to focus light on the realities, process, norms but proclaim that their coaching centers secured several ranks in CPT. Facts shall always Remain firm. CA (CPT) is only a qualifying test, and securing ranks, if any, shall never be useful at any Stretch of imagination, from all possible dimensions, except to attract the students, parents and to mint

Money.

However, a comparative table is shown for clarity, awareness and understanding.

	ICWAI course	CA course
1. Time	Possibility to complete at-least in 2 years	A minimum of 5 years time is Essential
2. Eligibility	ICWAI “Foundation” is to be passed after plus 2 (intermediate). Degree students and above, can enter the course directly.	CPT is a must for Degree/PG Courses too.
3. Opportunity to study regular Degree Course	An excellent opportunity to study regular Degree while studying ICWAI	No opportunity to study regular degree, while studying CA
4. Employment  Opportunity	Equal opportunities to both ICWAI/CA	Equal opportunities to both ICWA/CA
5. Articles/ Practical training	There is no relation between, to obtaining training and passing the Examination.	There are some regulations and limitations for Examination i.e., articles

This Article is written by CMA Samir Biswal. He can be reached at cmasamirbiswal@gmail.com

 
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